XRP/USD Likely to Slide below $0.90 Level
https://ift.tt/3Fwt0bi
Ripple Price Prediction – December 26
The Ripple price prediction shows that XRP lacks imminent support within the market and may begin to trade downward.
XRP/USD Market
Key Levels:
Resistance levels: $1.10, $1.15, $1.20
Support levels: $0.75, $0.70, $0.65
XRPUSD – Daily Chart
At the time of writing, XRP/USD is likely to correct downwards after touching the resistance at $0.93. However, the bulls are now having a hard time finding support as the upward movement was simply too steep. Therefore, traders can see that XRP/USD has nearly lost all the gains made few days ago but the bulls could attempt to see a bounce in the next positive movement.
Ripple Price Prediction: Ripple (XRP) Ready to Fall More
The daily chart reveals that the Ripple Price is seen correcting downwards after having soared at $1.07 resistance but unable to hit the higher resistance. The coin is likely to cross below the 9-day moving average but hovering around $0.91 support. However, the moment the coin rightly gains the required momentum, it is ought to bounce back and retest the formed resistance.
At the moment, the technical indicator Relative Strength Index (14) faces the south with its signal lines pointing downward. Therefore, should the bulls prevail over the bears by keeping the price back above the 9-day and 21-day moving averages; XRP/USD may rally towards the $1.10, $1.15, and $1.20 resistance levels. In other words, if the bears push the price below the moving averages; the price could find its low at the support levels of $0.75, $0.70, and $0.65 respectively.
Against Bitcoin, for the past few days now, Ripple (XRP) has been consolidating around the 9-day and 21-day moving averages but the coin is yet to slum below the lower boundary of the channel as bulls may try to step back into the market. During the European Session today, the coin touches the resistance level of 1848 SAT, traders can expect a price rise to the resistance level of 2000 SAT and above.
XRPBTC – Daily Chart
However, if the sellers push the price down towards the lower boundary of the channel, the next support level could be located at 1800 SAT and further support may be found at 1700 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) is moving below 60-level, suggesting bearish signals.
Looking to buy or trade Ripple (XRP) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
Read more:
Cryptocurrency
